Intech Investment Management LLC Takes Position in AvalonBay Communities, Inc. (NYSE:AVB)

Intech Investment Management LLC bought a new stake in AvalonBay Communities, Inc. (NYSE:AVB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,229 shares of the real estate investment trust’s stock, valued at approximately $490,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AvalonBay Communities by 678.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,050 shares of the real estate investment trust’s stock valued at $386,315,000 after buying an additional 1,494,872 shares in the last quarter. State Street Corp increased its holdings in shares of AvalonBay Communities by 2.2% during the 3rd quarter. State Street Corp now owns 9,245,028 shares of the real estate investment trust’s stock valued at $2,097,971,000 after acquiring an additional 196,938 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in AvalonBay Communities by 51.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 554,290 shares of the real estate investment trust’s stock worth $121,927,000 after purchasing an additional 188,906 shares during the last quarter. Raymond James Financial Inc. bought a new stake in AvalonBay Communities during the fourth quarter worth approximately $35,153,000. Finally, Proficio Capital Partners LLC bought a new stake in AvalonBay Communities during the fourth quarter worth approximately $23,513,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

Wall Street Analyst Weigh In

AVB has been the subject of a number of analyst reports. Mizuho upgraded shares of AvalonBay Communities from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $239.00 to $242.00 in a research note on Monday, January 6th. Evercore ISI upped their price target on shares of AvalonBay Communities from $230.00 to $240.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Royal Bank of Canada lifted their price objective on AvalonBay Communities from $226.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Zelman & Associates upgraded AvalonBay Communities from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised AvalonBay Communities from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $247.00 to $262.00 in a research report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $238.64.

AvalonBay Communities Trading Up 2.3 %

AVB stock opened at $214.40 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The firm has a market cap of $30.50 billion, a P/E ratio of 28.25, a P/E/G ratio of 3.11 and a beta of 1.00. AvalonBay Communities, Inc. has a 1-year low of $177.40 and a 1-year high of $239.29. The business’s 50 day moving average is $217.86 and its 200-day moving average is $222.78.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.03). AvalonBay Communities had a return on equity of 9.15% and a net margin of 37.13%. Equities analysts anticipate that AvalonBay Communities, Inc. will post 11.48 earnings per share for the current fiscal year.

AvalonBay Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $1.75 dividend. The ex-dividend date is Monday, March 31st. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.70. AvalonBay Communities’s payout ratio is 92.23%.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.